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Tabcorp issued its Q1-2013 trading update

Wednesday October 17, 2012 : TABCORP REVENUES RISE
 
Trading update shows strong performance from online operations
 
The Australian gambling group Tabcorp issued its Q1-2013 trading update Wednesday showing year-on-year overall revenue growth of 2.9 percent to A$488.9 million.
 
“Tabcorp has started FY2013 well and the company’s strategies continue to deliver improved revenue," said the company’s Chief Executive Officer, David Attenborough.
 
"Our investments in expansion initiatives, such as Tabcorp Gaming Solutions and the new Victorian Keno business are contributing to company growth.”
 
Tabcorp’s reported Wagering result was impacted by the new Victorian Wagering and Betting Licence terms, which commenced on 16 August 2012. The company's share of the new Victorian Joint Venture has changed from 75 percent to 50 percent.
 
Total Wagering revenue, including the Victorian Racing Industry's interest, grew by A$20.0 million, or 4.5 percent on the prior corresponding period.
 
After accounting for the VRI’s interest, Tabcorp’s reported Wagering revenue was A$384.6 million, down 2.4 percent.
 
A more positive picture emerged on Keno, where revenue grew 17.7 percent to A$53.9 million, bolstered by the game’s launch in Victoria and continued growth in NSW and Queensland.
 
Tabcorp’s Media & International business also grew revenue by 6.2 percent to A$49.5 million.
 
The company’s new gaming services provider, Tabcorp Gaming Solutions (TGS) went live on 16 August 2012 as part of Tabcorp’s response to Victoria’s new gambling industry structure. TGS delivered A$13.1 million in revenue in 1Q13.
 
The discontinued (licence expired) Victorian Tabaret business contributed A$130.2 million in 1Q13 revenue.
 
Fixed odds revenue continued to grow strongly for Tabcorp’s Wagering business, up 30.3 percent on the prior corresponding period to A$94.7 million. The increase in fixed odds revenue more than exceeded the decline in totalisator revenue, reflecting a shift in customer preferences toward FOBTs..
 
Trackside, which is now widely distributed in 2,700 venues across NSW and Victoria,
had revenue growth of 8.7 percent.
 
Luxbet, the group's online and telephone betting service, continued to make strong progress driving both turnover and revenue as it competed for share in the Northern Territory corporate bookmaking market. Luxbet revenue grew 52.8 percent to A$8.1 million in 1Q13.
 
Digital turnover, excluding Luxbet, grew a creditable 12.9 percent, supported by the widespread adoption of mobile devices and changing customer preferences.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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